topic Re: Capital One Graduation? in Credit Cards

Capital One Graduation?

DebtJoe — Thu, 11 Apr 2019 22:26:11 GMT

Greetings!

Was hoping someone could help me with my Capital One Secured Mastercard. Do these guys still graduate?

My 11th statement just cut, and it did not graduate as of yet. I'm in the process of closing all my starter cards (Credit One Bank and Avant card were just closed.)

That would leave me with a:

Capital One QS 1 $500 limit(Hoping to upgrade eventually to QS, I keep checking)

Chase Amazon Rewards Visa $3600 limit

Discover IT $9500 limit

HSBC Gold Mastercard $3500 limit

Should I close the secured Cap One, or stick it out and wait?

Re: Capital One Graduation?

Remedios — Thu, 11 Apr 2019 22:32:11 GMT

Cap 1 is not graduating cards at this time and is unclear if they ever will.

As far as closing it, that's totally up to you. I dont really see any need for it with the cards you already have and it's not an older account.

Re: Capital One Graduation?

pinkandgrey — Thu, 11 Apr 2019 22:57:32 GMT

I would close any and all Cap One cards. You can get back in with them later by apping for a more prime card.

Re: Capital One Graduation?

Anonymous — Thu, 11 Apr 2019 23:40:50 GMT

I would stick it out. I had a Cap One last year graduate at a year. And I also wouldnt close it, to keep your age of accounts up.

I'm still learning but both those tips ^ seem a little off.....

Re: Capital One Graduation?

Brian_Earl_Spilner — Thu, 11 Apr 2019 23:43:35 GMT

It depends when you got the card. They flip-flop on it. If you got during a graduation period, it will graduate. If you got it during a non-graduation period, it will never graduate. Doesn't matter if the change stance again, it depends on what stance they had when you opened the card. Read your terms and conditions to see which you are.

Re: Capital One Graduation?

Anonymous — Thu, 11 Apr 2019 23:55:57 GMT

Im with DP68 on this. I think AAoA, it will hurt a bit for your score. But you do have several others that will offset that thankfully. It does suck as you do have money invested into a secured card. And recently Captial One hasn’t been graduating from what I have heard. I would give Cap a call and see what they can tell you regarding at least going to a unsecured platinum. An unsecured plat has a better chance of upgrading to a QS than that sticky QS1 unfortunately.

Definitely keep us posted as a lot of confusion has been swirling unsecured grads at Cap1 recently.

Re: Capital One Graduation?

DebtJoe — Fri, 12 Apr 2019 00:02:07 GMT

Thanks for the replies all.

I just got off the phone with Capital One inquiring about my secured card. The lady was very informative and advised me that my account was opened a few months after they stopped graduating cards. 0 chance for me so I closed it.

My Quick Silver One is at a 500 limit, so still debating one whether or not to keep it open. I think I might have a bucketed product honestly.

As for my AAOA, all these cards are less then a year so not really worried about that.

Re: Capital One Graduation?

Anonymous — Fri, 12 Apr 2019 00:13:52 GMT

I think it was a smart move. If it wasn’t gonna graduate, then it’s not doing anything for you. I would have done the same.

Yeah, that QS1 is gonna be a thorn.

Re: Capital One Graduation?

shadanat — Fri, 12 Apr 2019 14:28:24 GMT

The Quicksilver 1 may have a chance. I started with $500 limit on my Quicksilver One and they told me after five on time payments, I would be eligible for a credit limit increase. I used the card heavily and PIF every month with no balance ever posting when the statement cut. After 5 months, they upped my limit to $2,000. At the 8 month mark, I was able to convert it to the no fee QuickSilver.

I know this isn't the norm for Capital One from what I've read but they were one of the first to offer me products after my bankruptcy and I had burned them. I now have a car loan with them as well as the Quicksilver card

Re: Capital One Graduation?

Anonymous — Fri, 12 Apr 2019 16:30:38 GMT

Odd because today on the site for the secured cards it states in terms cards will be graduated by them at some point.

Re: Capital One Graduation?

DebtJoe — Fri, 12 Apr 2019 18:14:10 GMT

**bleep**, Cap One showed you love there, lol.

I started with them at a $300 limit......at month 5 they upped my limit to $400, at month 7 they upped my to $500, and here I am at month 9 with the same limit. I guess I'll be patient with them. I've been using the cards' balance roughly two times over each month (always paying in full each month multiple times) to try and pursuade Cap One into upping my limit lol.

Re: Capital One Graduation?

Anonymous — Fri, 12 Apr 2019 20:55:42 GMT

https://m.imgur.com/gallery/tKM15So

Here is what is on their app page 4/12/19.
This was also there when I applied last year the first of March 2018.

Capital One has internal communication problems if nobody knows the status.